After IS war, Kuwait hosts conferences on rebuilding Iraq

Kurdistan hopes to get a fair share during the Reconstruction Conference in Kuwait

Kurdistan hopes to get a fair share during the Reconstruction Conference in Kuwait

This came despite announcements by officials in the conference that Baghdad would need more than $88 billion to rebuild Iraq following more than three years of war on Daesh that left many parts of the Arab country in ruins.

According to the report, "Iraq: Reconstruction and Investment", released by Kuwait's Chamber of Commerce and Industry in January, more than 200 projects in 10 sectors, including education, health, transportation and agriculture, are ready to receive financing.

The seven provinces attacked by the militants suffered $46 billion in direct damage, including the destruction of 147,000 housing units, and the security forces took $14 billion in losses.

The second day is allocated for expounding investment opportunities in Iraq and chances of the private sector there.

Prince Henrik of Denmark passes away at 83
He was made Prince Consort in 2005, and in 2008, both of Margrethe and Henrik's sons were conferred the title "Count of Monpezat". His eldest son, Crown Prince Frederik, left the Winter Olympics and returned to Denmark to be by his father's side on February 9.

Non-governmental organizations pledged $330 million U.S. in humanitarian aid to Iraq at a parallel NGO conference on the sidelines of the main reconstruction one, Kuwait's state news agency KUNA reported. These projects are largely focused on infrastructure, with rebuilding the facilities at Mosul's airport a major focus, according to Reuters.

CNBC, quoted the United Nations estimating that 40,000 homes need to be rebuilt in Mosul alone and Iraqi officials estimate $17bn alone needs to go toward rebuilding homes.

The United Nations has warned that the failure of the worldwide community and major powers in the West to help Iraq could lead to renewed instability.

"Rebuilding Iraq is restoring hope to Iraq, and restoring the stability of Iraq is stabilizing the states of the region and the world", al-Jumaili told delegates, adding that the reconstruction was therefore partly the worldwide community's responsibility.

Credit Suisse Is Finally Finding Its Sweet Spot
Credit Suisse reported a 2017 full year loss of CHF983 million, that's below expectations of around a CHF1.1 billion loss. On a pre-tax basis, it was the bank's first year in the black since Thiam launched the turnaround plan in 2015.

Kuwait's state news agency, KUNA, reported a pledge of providing Iraq with $330 million in humanitarian aid by non-governmental organizations at a parallel NGO conference.

French Foreign Minister Jean-Yves Le Drian, whose country is a key member of the anti-IS coalition, visited Iraq on Monday ahead of attending the conference.

Since the 1980s, resource-rich Iraq has been battered by war and worldwide economic sanctions.

Iraq reopened to foreign investment after 2003, with most spent on increasing its oil and natural gas production.

Michelle Obama portrait by Amy Sherald: The critics respond
President Obama is set against a riot of greenery that, according to the artist, charts "his path on Earth through those plants". Also unveiled Monday was a portrait of former first lady Michelle Obama by artist Amy Sherald , who is based in Baltimore.

A USA -led invasion toppled Saddam Hussein and was followed by years of insurgency, sectarian bloodletting between Sunnis and Shi'ites, as well as ethnic tensions between the Arabs and Kurds, all before ISIL emerged in 2014. Iraq has been plagued by violence over the past 15 years.

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